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Federal Reserve Chairman Ben Bernanke has delivered a message of optimism to Congress, predicting that the recession might end this year and that regulators are not planning to nationalize banks. His reassurance has alleviated some investors' worries about the economy and the banking industry, and the Dow Jones Industrial
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The Israeli government is poised to take a critical step towards a possible prisoner exchange with Hamas, a move that could lead to the release of hundreds of Palestinian prisoners. The Security Cabinet, Israel's top-level decision-making body, is expected to convene today to discuss a proposal that would
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Dale Earnhardt Jr. suffered a disastrous day in the Daytona 500, triggering a nine-car accident that knocked out rival Kyle Busch and damaged the chances of several other top contenders. The incident occurred after a restart with 75 laps remaining, when Earnhardt's Chevrolet collided with Brian Vickers'
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The omnipresent Hope poster that catapulted Barack Obama to the White House has become a symbol of the art world's collective obeisance to the new president. Street artist Shepard Fairey, creator of the iconic image, is now embroiled in a copyright infringement lawsuit with the Associated Press, which
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The Xbox 360 is the go-to console for online gaming, boasting the most popular multiplayer games like Halo and Gears of War. Its redesigned interface, the New Xbox Experience, makes it easy to connect with friends online or meet new gamers. The console also allows users to download bonus material
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President Obama was on the verge of appointing Republican Sen. Judd Gregg as his commerce secretary, but officials cautioned that the move would not guarantee complete Democratic control of the Senate. The selection of Gregg would be accompanied by the appointment of Bonnie Newman, a veteran of the Reagan White
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Stock markets closed the worst January on record, with the Dow Jones industrial average and Standard & Poor's 500 index suffering record percentage drops of 8.84 and 8.57 percent, respectively. Investors remained on edge about the economy and were further rattled by reports that the government&
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As the clock ticks closer to a midnight expiration of the current labor agreement, 24,000 refinery workers from the Gulf of Mexico to Montana are prepared to head to the picket lines, despite a third contract offer from Valero Energy Corp. being rejected. The nation's biggest refiner
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Investors will be closely watching a wave of earnings reports from hundreds of companies this week, including tech giants Yahoo!, Sun Microsystems, and Texas Instruments, as well as consumer product companies Procter & Gamble, Kimberly-Clark, and Starbucks. The reports will provide valuable insights into consumers' willingness to spend, while
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The Coca-Cola Co. has initiated a global marketing campaign to recapture the attention of consumers and reignite interest in soft drinks, a sector that experienced a 4.8% decline in sales in the US during the first nine months of last year. The campaign, titled "Open Happiness" and
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A potential link to a deadly salmonella outbreak has led to the recall of various peanut butter-containing products, including Little Debbie snacks, after government officials advised consumers to avoid eating cookies, cakes, ice cream, and other foods with peanut butter. The voluntary recall by McKee Foods Corp. of Collegedale, Tenn.
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House Democrats have unveiled a sweeping $825 billion economic recovery bill, designed to inject massive public spending into the US economy and create or preserve more than 3 million jobs. The legislation, which combines two-thirds spending and one-third tax cuts, aims to help the poor, unemployed, and small businesses, and
